Amaya Inc. Shareholders are Reminded of the May 24, 2016 Deadline to Seek Lead Plaintiff Status in Pending Securities Fraud Class Action

Published 11:07 PM ET Fri, 6 May 2016
Globe Newswire

BOSTON, May 06, 2016 (GLOBE NEWSWIRE) -- Investors in Amaya Inc. are reminded that the deadline for seeking lead plaintiff status in the pending securities class action against the Company (NASDAQ:AYA) is May 24, 2016.

Investors who purchased or otherwise acquired Amaya securities on the NASDAQ exchange between June 8, 2015 and March 23, 2016 are eligible to serve as lead plaintiffs in the class and are encouraged to contact Block & Leviton LLP for more information about the lawsuit and how they can participate in it.

Block & Leviton’s class action alleges that Amaya’s CEO engaged in an insider-trading scheme and that the Company misled investors about its internal controls, causing significant financial harm.

On March 23, 2016, Quebec's securities regulator Autorite des march financiers (the "AMF") announced that it charged Amaya's CEO and founder, David Baazov and other key insiders with insider trading. The AMF is working in conjunction with the Royal Canadian Mounted Police, Quebec Police and U.S. regulators investigating why an atypical amount of forward-looking bets were made on Amaya's stock prior to its merger with PokerStars. The AMF’s investigation is ongoing and it may file additional charges.

On news of the charges against Baazov, Amaya stock declined approximately 20%, representing a market capitalization loss of approximately $275 million. Baazov has since taken indefinite leave from Amaya to address the charges.

Amaya investors are reminded that if they wish to become a lead plaintiff, they must move the Court no later than May 24, 2016. If you have questions about your legal rights, would like a copy of the complaint or if you have information relevant to this lawsuit, please contact attorney Steven Harte at (617) 398-5600 or at Steven@blockesq.com or attorney Bradley Vettraino at (617) 398-5600 or Bradley@blockesq.com.

Block & Leviton LLP (www.blockesq.com) is a securities litigation firm representing investors nationwide and its investigations into corporate wrong-doing have recently been covered by the New York Times. With offices in both Boston and the Bay Area, Block & Leviton represents some of the nation's largest institutional investors and has recovered more than a billion dollars for its clients.